Solar Panel Cost Guide in Owatonna, MN (2024 Update)

  • Owatonna Solar Installation Cost: $20,208
  • 25-Year Savings: $20,846
  • Payback Period: 14.4 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 24, 2025

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Owatonna

Find out what the average cost of installing solar panels is in Owatonna.

In Owatonna, solar panels cost about 4 per watt on average.Because a 7.2-kW system is needed to cover the energy consumption of a typical home in Owatonna, the average price of going solar will be about $20,208 after claiming the federal solar tax credit of 0.

Remember that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy use, the type of solar panels you want to get, your solar contractor and more.With average savings of about $19,000 on energy bills over 20 years, many homeowners in Owatonna find investing in solar has a decent ROI.

Click the button below to get connected to a top solar panel company in Owatonna for a personalized estimate.

Solar savings over time in Owatonna

YearReturn on Investment
1 years$-18,929
3 years$-16,370
5 years$-13,811
7 years$-11,252
9 years$-8,693
11 years$-6,134
13 years$-3,575
15 years$-1,016
17 years$1,542
19 years$4,101
21 years$6,660
23 years$9,219
25 years$11,778

Top Solar Installers in Owatonna

DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Going with a solar company can make your swap to solar power much easier. Solar warranties and repairs are ordinarily included in the cost of installation when you opt for a solar contractor as well, which can save you more money over time.

If you’d like to switch to solar energy but still aren’t certain which solar system installer to go with, here are our suggestions for providers near you:

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See all of the solar companies in Owatonna

Factors that Affect Solar Panel Costs in Owatonna

The cost of installing a solar system in Owatonna can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.

Solar Equipment

The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $4,030. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Owatonna, where sunlight isn’t as abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

Most solar companies in Owatonna offer solar loans, which reduce the initial cost of installing solar panels.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.

Solar Panel Installation Company

Finally, the company you choose to install your solar panels can influence your pricing. Owatonna’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Owatonna are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.

Solar Panel Cost Data by System Size

System sizeCost per system wattSolar system cost25-Year savingsPayback period
6 kW$4.19$17,603$11,78515.0 years
8 kW$4.11$23,019$16,16514.7 years
10 kW$4.03$28,210$20,77014.4 years
12 kW$3.95$33,175$25,60114.1 years
14 kW$3.87$37,914$30,65813.8 years
16 kW$3.79$42,428$35,94113.5 years
18 kW$3.71$46,716$41,44913.2 years
20 kW$3.63$50,778$47,18313.0 years

How to Save on Solar Panels

Since the type of solar panels and the installation company you choose considerably affects your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:

  • Warranty: If you’re concerned about the endurance of your solar panel system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
  • Installation Process: When going solar, it’s necessary to maintain an open line of communication with your solar panel installer. Confirm that you understand how the installation process works and the project timeline.
  • Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
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EcoWatch's Owatonna, MN Solar Cost FAQs

How much does it cost to install solar panels in Owatonna?

This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $20,150 for a 5-kW system and $40,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.

Should I lease or buy solar panels in Owatonna?

Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.

How much can I save on electricity bills after installing solar panels?

It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Owatonna, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.

Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.

Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.